A geoeconomic strategy for the new normal

The world is on the cusp of a "new normal": A China that seems to be retreating from domestic economic growth while ascending internationally with the creation of new financial institutions and the internationalisation of the renminbi; a US on the path to full economic recovery following the Global Financial Crisis as evidenced by its decision to raise interest rates; dramatic Chinese initiatives to increase connectivity in Asia; and altered constellations of trade agreements in the Asia-Pacific, following the signing of the Trans-Pacific Partnership. This paper describes the interplay amongst all of these factors shaping the global new normal, as a way to sketch a geoeconomic strategy for India in the medium run. The study is situated in academic literature on geoeconomics and game theory and - as a conclusion - describes the key components of a geoeconomic grand strategy for India.

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Abhijnan Rej is a Fellow in the Strategic Studies Programme. His current research revolves around Indian grand strategy, India’s China and Pakistan policies, and theory and practice of limited wars. His secondary research interests include conventional and nuclear deterrence, and international institutions.